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Construction Industry Looks to 2023

CFO News Room

As 2022 closes and 2023 begins, we spoke with the members of our senior sales team for the construction industry to get their thoughts on the challenges construction companies will face in the new year. They have been through many business cycles and have seen construction businesses thrive, survive, and fail.

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The ERP Takes A Wrecking Ball To Construction Workflow Friction

PYMNTS

In the construction industry, the ERP is especially valuable considering the complex network of collaborators, and subsequent high volume of data, involved in a single project. From managing subcontractors to coordinating with insurance firms to paying employees, data sits at the heart of every construction project. "I

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Construction, manufacturing and retail account for 40% of administrations

Accountancy Today

Data from The Gazette Official Public Record revealed construction, manufacturing and retail were the sectors that accounted for almost 40% of administrations in 2022.

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Palette Unveils AP Automation Software For Construction Firms

PYMNTS

Palette Software unveiled accounts payable (AP) automation technology that is designed for firms in the construction and engineering industries and run on the cloud, according to an announcement. In June, Centsoft introduced AP automation for companies in the construction sector.

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Hippo CEO: More Than Just Insurance, We Want To Be The ‘1-800 Number’ For The Home

PYMNTS

But now, he said, the stage is being set for a reimagining of what home insurance can — and should — be, regardless of whether the demand is spurred by sales, refinancing, first-time homebuyers or new construction. Hippo, he said, “wants to be a 1-800 number for everything in your home.”. This Time Is Different.

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Wawa To Construct Drive-Thru-Only Convenience Store In PA

PYMNTS

The architectural design of the 1,850-square-foot store in Pennsylvania’s Lower Bucks County will offer drive-through service only, removing the need to limit the number of customers in the store or to require masks or social distancing. Construction is scheduled to start later this month with a targeted opening by Christmas.

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SBA On PPP Numbers: One Million Loans, $247B (So Far)

PYMNTS

Drilling down into the details, the biggest subsector to get funding to date – measured as a percentage of gross dollar value of approved loans – was construction , at just under $34 billion dollars, representing 13.7 Applications are being taken through the end of June. percent of the total to-date tally.

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